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EOS price analysis: EOS/USD continues to rise past $5 as bulls consolidate

EOS Price Analysis

TL;DR Breakdown

  • The EOS price analysis shows bullish sentiments
  • EOS is fluctuating between $4.8549 and $5.0717 in the last 24 hours.
  • RSI and MACD analysis on the 1-Day and 4-Hour graph suggest that the price will increase further.
  • EOS may not be able to reach the previous high of $6.2528.
  • Good time to make any short-term investments for quick profits.

Just like yesterday, EOS Price analysis today is bullish as the market continues to improve after a big dip on the 7th of September. Projections for the next few hours seem good as the market is expected to improve further. Though, based on the trends, it is not likely to retrace to the last high of $6.2528 soon.

EOS price analysis: EOS/USD continues to rise past $5 as bulls consolidate 1
Cryptocurrency heat map by Coin360

Overall, bullish sentiment is apparent in the crypto market today, as Bitcoin has marked over a 3 percent increase. Furthermore, Ethereum’s increase is over 4 percent. All altcoins are also following the same suit and riding along the current bull run.

EOS Price Analysis
EOS Price Chart by TradingView

As shown by the 1-Day EOS price analysis chart above, the coin is currently trading at $5.0717 while its closing price yesterday was $4.8549. This marks a good change, and the trend is continuing to grow as the RSI shows a steep increase in the curve.

Furthermore, the RSI levels are currently at 50.73, which suggests that the market is very slightly overbought. However, the positive gradient shows further growth potential. On the other hand, the red histograms on the MACD analysis finally seem to be settling in and a shift is expected in the coming few hours.

24 hour EOS price analysis: Bulls building a trend?

EOS price analysis: EOS/USD continues to rise past $5 as bulls consolidate 2
EOS Price Chart by TradingView

EOS Price analysis over the last 24 hours has been somewhat stable with significant growth in the last four hours. Overall, based on the current price, the coin has gone from $4.8065 to the ongoing price of $5.0785. This would, of course, change rapidly as the market is expected to improve further in the coming hours.

Currently, EOS has a market cap of $4,916,572,460 and a market rank of 41. A quick look at the RSI on the hourly graph shows that the market might face some resistance in the current hour. However, in the longer picture, the MACD analysis gives us good hope of further recovery.

4-hour EOS price analysis: Could EOS/USD retrace to $6.2528 soon?

EOS price analysis: EOS/USD continues to rise past $5 as bulls consolidate 3
EOS Price Chart by TradingView

On the 7th of September, EOS/USD hit the last high of $6.2528. After that was followed by some bearish engulfing. However, since then, the market is continuously recovering with significant improvement today.

The 4-Hour EOS price analysis chart gives us a good indication of what to expect from the market in the coming few hours. Firstly, in the bigger picture, the next 4 hours will mark a further increase in the price.

We can see that the RSI is currently touching 64.70 and is projecting a positive gradient. Not only that, but the MACD analysis also shows histograms in the green, with no likelihood of a crossover anytime soon. This is a good indication for some recovery, hence increasing the likelihood for day-traders to make some short-term profits.

EOS price analysis: Conclusion

Today, the EOS market is quite bullish. The resistance has not taken over yet and the bulls seem to be in full motion to drive the market higher. However, it may not hit the last high of $6.2528 today. Though, the price can get closer to the point before the resistance increases.

While you wait for the EOS market to take its course, how about checking out our detailed guides on crypto mining.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Shummas

Shummas

Shummas is a technology enthusiast and a researcher with a keen interest in blockchain and Artificial Intelligence. He also loves playing games and music in his spare time to keep his creative juices flowing.

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